Citi Raises General Electric Stock Price Target, JDS Uniphase Estimates Rise

General Electric Co. (NYSE:GE): Citigroup removed General Electric (NYSE:GE) from its Top Picks Live list on expectations Pentair (NYSE:PNR) is better positioned for the risk-on trade over the near-term. However, Citi raised its price target for GE shares to $24 from $22 and maintains a Buy rating on the stock.

JDS Uniphase Corporation (NASDAQ:JDSU): Citigroup raised its estimates and price target for JDSU following the company’s analyst day and reiterates a Buy rating on the stock. However, Citi feels JDSU shares may see some short-term weakness following the 40% year-to-date rally.

Pentair, Inc.(NYSE:PNR): Citigroup added Pentair (NYSE:PNR) to its Top Picks Live list and raised its price target for shares to $45 from $42 citing valuation and the company’s residential exposure. Citi says Pentair replaces General Electric (NYSE:GE) as its top pick in the Multi-Industry Sector.

Digital Realty Trust Inc.(NYSE:DLR): Digital Realty (NYSE:DLR) has entered a joint venture agreement with Equinix (NASDAQ:EQIX) to develop a build-to-suit data center facility for Carpathia Hosting, a provider of managed hosting services for enterprises and federal agencies. The agreement includes the sale leaseback of a three-acre site in Ashburn, Virginia that was acquired from Carpathia. Excluding a 10,000 square foot data center facility currently owned and operated by Carpathia on the site, the joint venture acquired the land and non-data center improvements from Carpathia for a purchase price of approximately $15M. In conjunction with the site acquisition, the joint venture will develop a new 64,000 square foot facility.

Zions Bancorp.(NASDAQ:ZION): Following Zions’ bi-annual investor day, Morgan Stanley said shares should move higher due to improving fundamentals and capital structure. Price target is $27.

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To contact the reporter on this story: Derek Hoffman at

To contact the editor responsible for this story: Damien Hoffman at